Consider a market in which two firms compete as quantity setters and the market demand curve is given by Q = 4000 - 4P. Suppose firm 2 can choose quantity before firm 1. If both firms have identical cost functions, which of the following outcomes is likely to occur in the Cournot equilibrium?
a) Firm 2 produces less than firm 1.
b) Firm 1 produces less than firm 2.
c) Both firms produce the same quantity.
d) The firms produce a total quantity of 4000.